Bloomingdale’s agreed to sign a 550,000-square-foot office lease to anchor Tishman Speyer’s new Long Island City development, according to a report.
The retailer will join co-working company WeWork, which leased 250,000 square feet at 28-10 Queens Plaza South.
Tishman Speyer on Monday announced it would start construction of the 1.1 million-square-foot development, which will feature two 27-story office buildings connected by a four-story structure that will include retail space and a food hall. Investment firm Qatari Diar, an offshoot of Qatar’s sovereign wealth fund, is an equity partner on the project and Bank of the Ozarks provided the construction loan.
Last summer, Tishman Speyer reached a deal with Bloomingdale’s parent company, Macy’s, to buy the office floors above its Downtown Brooklyn department store at 422 Fulton Street, as well as a parking garage, for $170 million. [Crain’s] – Konrad Putzier